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May 13, 2026 

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ECONOMIC POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.

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SCARCITY

A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.

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Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a T-shirt commemorating the first day of winter or software that won't crash your computer. Be on the lookout for celebrities who speak directly to you through your television.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"The tragedy of life is not so much what men suffer, but rather what they miss. "

-- Thomas Carlyle, Historian

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